JR Capital announce the acquisition of 14-16 Westsbourne House, Westbourne Grove, London W2
JR Capital is pleased to announce the acquisition of Westbourne House on Westbourne Grove. Westbourne House is a 1980’s office building arranged over basement, ground and five upper floors. The upper floors are presently used as offices and with a ground floor retail unit leased to National Westminster Bank for a further 6 years and used as a Banking Hall. The total gross area of the building is circa 35,000 sq.
JR Capital was responsible for structuring the deal and raising the equity from a consortium of its Middle East institutional and private clients. Planning permission will be sought to convert the upper parts into up to 20 luxury apartments with a new 7th floor penthouse, car parking in the basement and lower ground floor and a new retail unit adjacent to the existing Banking Hall on the ground floor.
A few minutes’ walk from Hyde Park and with excellent local amenities and transport links the building occupiers a prominent position set back on the East side of Westbourne Grove which is due to benefit from Westminster Council’s streetscape improvement works (www.westminstertransportationservices.co.uk/projects/project_details.php?id=276) and a number of key developments nearby including the former Queens Cinema on the junction of Bishops Bridge Road and Queensway.